💹 Market overview May 13, 2021

Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:

BTC. The market is storming due to the release of negative news, the impact of which cannot be predicted within the framework of technical analysis. Elon Musk in his Twitter account published information that Tesla is suspending the acceptance of BTC as a means of payment due to an unecological method of generating electricity used for mining the first cryptocurrency. At the same time, the bitcoins owned by the company, Tesla is not going to sell yet. Once again, the statements of the opinion leader had an impact on the value of the asset, the bitcoin exchange rate at the moment fell by 17%, on the four-hour timeframe, the shadow of the candle touched the level of correction of 0.5 on the Fibo ($45,983), from which the asset rebounded. Due to the strong downward momentum, the price has moved beyond the "Bollinger Bands" channel and is currently trading above the lower line of this indicator. The pressure of buyers has dried up, for the development of an upward movement, the instrument needs to close above the correction level of 0.382 on the Fibo ($50,132), followed by consolidation above it and a growth impulse to the diagonal resistance line.

ETH. The asset set a new price high – $4,372. 72 on the Binance exchange, after which it went on a correction after bitcoin. Ether is trading above the $3,900 support level, with the nearest significant resistance around $4,165.

One of the largest international money transfer services, MoneyGram, will allow you to buy and cash out cryptocurrency in its branches in the United States . To do this, the company has entered into a partnership agreement with the cryptocurrency exchange platform and the cryptomat operator Coinme. According to the chief executive officer of MoneyGram, Alex Holmes, the company became the first in the world to implement a model for converting cryptocurrency into cash. In 2018, MoneyGram already entered into a partnership agreement with the blockchain company Ripple to use the XRP token in cross-border payments. However, their cooperation was interrupted due to claims from the SEC to Ripple. The company has more than 350,000 service points in more than 200 countries and cooperates with more than 400 leading banks from around the world. The use of the created infrastructure of the international money transfer service for transactions with digital assets will spur the development of the entire cryptocurrency industry.

The news that Coinbase Ventures became a strategic investor in the NEWS Finance (NEWS) project increased the value of NAOS by 270% at the peak (against the dollar).

The partnership with PancakeSwap, announced by IN Finance (ON), led to a 45% increase in the price of OIN at the peak (against the dollar).

The launch of the new Alpha Home rev 2 protocol with an increase in rewards when farming Alfa Finance Lab (ALPHA) caused ALPHA to grow at a peak of 30% (against the dollar).

The U.S. stock market ended Wednesday lower on the back of negative dynamics in the technology, raw materials and consumer services sectors. At the close on the New York Stock Exchange, the Dow Jones fell by 1.99%, reaching a one-month low, the S&P 500 index fell by 2.15%, the NASDAQ Composite index fell by 2.67%

The total value of digital assets over the past day decreased by 6.75%, the dominance of the main cryptocurrency decreased by 4.3%, reaching a value of 42.05%. With a sharp decline in bitcoin, long positions on BTC alone were liquidated in the amount of almost $ 1 billion, there was a slight reset of the trend. In the absence of a negative news background, the market expects a recovery from a sharp drop in the near future.

Posted Using LeoFinance ^Beta